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Bank of America (BAC) Issues Statement On Mortgage-Backed Securitizations

December 15, 2010 4:35 PM EST Send to a Friend
Bank of America (NYSE: BAC) today issued the following statement:

"Counsel for BAC Home Loans Servicing, LP and Gibbs & Bruns LLP on behalf of certain investors including those who signed the previously reported October 18, 2010 letter with respect to private label residential mortgage-backed securitizations, as well as counsel for The Bank of New York Mellon, as trustee, have agreed to extend any time periods commenced by the October 18 letter. This extension will permit the parties to continue constructive dialogue around the concerns raised. The agreement covers all of the securitizations listed on the attached Exhibit A. The claims and defenses of all parties are preserved."

The securitizations in question are listed in the press release:




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